Gulf African Bank partners with Toyota Kenya to enable clients buy cars with loans of up to 95%
Shares
Premier Shariah compliant bank, Gulf African Bank and Toyota Kenya have entered into a strategic financing partnership that will enable the bank’s Corporate and SME customers purchase Hino trucks and buses, and Hilux single and double cab pick-ups through diminishing Musharakah-based vehicle financing.
Under the Shariah financing model, the bank and the customer both contribute to the purchase of the vehicle creating co-ownership, where Gulf African Bank will extend financing up to 95% of the value of the unit, repayable by the customer within a period of 60 months.